"LIKES" received on LeoFinance.io are Socially and Economically Viable
Social media engagement has been the new norm for social acceptance and relations. Many have taken to social media for political campaign and product advertisement and marketing. This makes social media owners super rich. This is because they provide an opportunity for two or more friends to socialize and perhaps broker business deal. It gets more interesting in the post covid era where human contacts is advise-ably reduced to the barest minimum to evade the risk of contraction of covid and related scourge.
Celebrities in the entertainment industry - movies, comedy, sports, music, have maximized social media to their biggest advantage yielding a huge fan page to boost their career and thus be able to deal with the social media owners for cuts.
Thus, social media usage benefits two sets of personalities: the owners and the "big" accounts with millions of fans and followers. The poor masses who actually contribute their "mite" and pool them together to feed the celebrities and elites as well as make way for huge returns to the owners of the socialmedia, are left poorer.
Mark Zuckerberg has made the list of World's Billionaires because poor and jobless people in Africa and the parts of the world are using Facebook. Bezoz on the other hand take advantage of buyers and sellers who converge at Amazon to cut his commissions to become the world's richest man.
How about a Social media with an economic benefit to "ALL" Users?
Many social media fanatics would argue out their teeth that their sales have improved due to their use of Facebook and the sand they always forget to account for their time and Data cost and parallel that with the relaed earnings. This is ignorance at work.
I was in their shoes years go until @Tomlee told me about STEEM in January 2018. It sounded like a new social media and I wanted to taste something new. However, everything changed along the line. Social interactions yielded economic benefits.
Later, I scaled to Hive and now Hive tribes, among which LeoFinance has been on the lead. Here, I write about Finance, cryptocurrency, investment, economics and I earn "likes" that convey valuye beyond social interactions.
Weeks ago, I penned this post which detailed how I have been giving out $1.3 worth of "like" to fellow users on the @leofinance community. The tweet of the post hasearned the biggest impression with over 50 likes and double digit retweets. Sad, many just liked it thinking its one of those "Twitter" posts, rather than getting detailed on how to add economic value to their "socialmedia likes".
In a few days, the LeoFinance community would be making it possible foe Twitter users to convert their likes from social engagement to economic enhancement/giving.
Never get jilted, ordinary like on Facebook and Twitter is making their owners rich and their users poor. However, "likes' on LeoFinance makes everyone rich - both the liker and the liked. My likes here do not just convey social love, it adds monetary love.
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And yet millions of people keep giving all their money to Mark and other big players.
It's on us to show an example and encourage! Together we can do anything!
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We need to create huge success stories and then share them. Show how everyday people are moving their lives in a different direction due to the joining of a Web 3.0 platform like Hive and Leofinance.
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Today, I was privileged to speak in a Business Summit. I mentioned Hive and Leofinance and other "give back" social media platforms when asked of how to use technology to maximize business returns.
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Yea! this must be a deliberate activity of everyone who has been on Hive for at least 6 months. Each of us so far have our success stories. WOuld e glad to read yours.
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I think I'll only write mine when I consider it a success. Right now I'm still growing to that level!
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You hammered this one and emphasized that LEO Finance upvotes are like any other Likes, but with value returned to those that participate in the network. This is the shift that is done with the blockchain revolution and only those lazy or ignorant don't participate at it.
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People will get here sooner or later.
It is like the Internet, it took more than a decade before the majority of people in the developed world were online.
At this point, we are still in the early stages. Web 3.0 is what they will join, they are just too accustomed to Web 2.0.
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We that have understood this early do have the responsibility of reaching out to others and consciously sharing our success story like I do often. Soon, there'll be an awakening.
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https://twitter.com/Uyobong3/status/1326668519661056002
The great thing is that through tokenization, we are the "owners".
We have the ability to pass things along to others and let them share in the wealth which is actually enhanced by them participating. The Network Effect is very powerful and something we need to kick off.
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Very true. Every action on this blockchain is an action that builds the business we co-own.
In fact, many can now leave crypto as inheritances for their children which is safe from the prying eyes of wicked relations who sniff out inheritances from the fatherless.
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It would be more accurate to say that Zuck is one of the richest people on Earth because people in the developed world have volunteered to donate him all of their data and too much of their time and privacy in exchange for getting to use the platform "for free" so that they could sell their profiles to advertisers for them to get them to buy unnecessary shit.
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Very true. Very true. Sad, the victims do not even recognize this.
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Still on the norms it hard for generation x to migrate too the new social media as they are still hooked too the old ways
I understand, the adoption may be slow. This is because knowledge is lacking. Today, I spoke at a Business Summit and mentioned that I earn money from my contents on socialmedia and people were literally keeping their mouths open in surprise. These are university graduates. We just have one responsibility of sharing our success story.
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Good article i specifically like the mention of the benefits of this in a post Covid era. Children are mostly being educated online. Social media and internet work has become more popular than ever. it's this expediated futuristic world.
I have thought about social media over the blockchain and unfortunately i have some great concerns that i feel your article doesn't take into consideration. I hope by pointing them out i can open your mind and readers minds to some things they should consider.
The first point that gets makes alot is that we get nothing for our blogs and contributions on mainstream social media. I would say that's incorrect and false. You get tremendous value on mainstream social media. The caveat is they use a different currency.
They use a social currency that can be converted to dollar value. For example if you're a business you have vastly more reach to sell products on your blogs either directly or indirectly. You also have social dynamics of connecting with long time friends and family members at a level that can only be achieved on a massive social network.
These are not small feats nor are they of no value. So i think we underestimate the value of these mainstream social media sites. Unfortunately the market does not and thus why so many remain on them. So how do we solve it and get it to blockchain social media
Well I think the solution is probably not one many will like. For example my research finds that these mainstream social media sites work on a freemium service model. So the mainstream social media trade off is getting venture capitalist or insitutional investors to front the bill. Our use of the vast network is upfront cost deferred. Meaning yes we have to pay for it but it's an easier pill to swallow.
Blockchain technology as it's decentralized and it's not a type of business that can be owned in a similar fashion. Requires upfront cost. You gotta pay electricity. You have to pay for engineering skills upfront.
If the cryptocurrency space could waive the upfront rewards i believe it could be successful. Some would argue that's just not how it works. However i can point you to an example of where that worked. Bitcoin, worked because in the beginning the engineering teams did all the work and remained dedicated based on the ideology of bitcoin not making money. As there was no money to be made at the time from the development etc., So you find even miners and people involved early days tell stories about how they made no money.
So i think decentralized social media .. The idea of being paid for likes can go forward possibly if that type of approach is set forth. The other problem with get paid for likes is that human psychology doesn't do well with inconsistency. So for example if you're doing something that pays you for likes. What is the metric to give value to a like.
Is it a similar metric to a similar post? Well if it's not then you could have an unfavorable reaction due to the market psychology. As to say competitive pricing models in traditional markets balance price control. So the like market for lack of a better word would be a inconsistent off system that pays people different prices for the same quality of content. I just dont think that works well for human psychology in markets.
So what's the answer. Freemium services. Who does that? Not very many if any at all. Is it the future? Yes i believe so.
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Well said. We are getting nearer to the future than where we were at the outset of STEEM in 2016. For instance, the LeoInfra feature is a super model that is trying to limit the bottlenecks to participation from Web 2.0 socialmedia like Twitter. Soon, we'll have Twitter users interact with us here seamlessly.
ALso, onboarding should be community centered on a blockchain like Hive. Yes, each community should come out with their model that makes it easier for their prospective users in their content niche to start-off a journey seamlessly. I hope we have community leaders that think in this direction.
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BRAVO, Mykos!
The BEST UBI is that which is freely given.
I think you can work it out!
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